Iraq’s state oil marketer has tweaked the crude assays of its key export grades for next year, which include a new medium sour crude known as Basrah Medium, according to documents seen by S&P Global Platts. The State Oil Marketing Organization sent a note to customers on Nov. 17 with “test reports” of Basrah Light, Basrah Medium and Basrah Heavy. A senior official representative at SOMO confirmed the new crude specifications with Platts. The new grade, Basrah Medium, will have a specific gravity of around 27.9 API with a sulfur content of 3.00%. This makes it very akin in quality to Saudi Arabia’s Arab Medium, which is of […]